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Need professional advice for your consent to let with Ahli United Bank (UK) plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to Ahli United Bank consent to lease
- I am buying a ground floor flat in Camden. I am only looking to reside there for six months, and subsequently move into a larger flat. As opposed to selling the prior flat I would like to let it out so that it becomes an investment. Do you know if Ahli United Bank would grant consent to let in such a scenario?
- I'm currently seeking a mortgage as first time buyer and considering Ahli United Bank with my broker. Suppose I choose a 5 year fixed rate I move in the property and after one year, an opportunity arises which involves a relocation requiring moving abroad. In the case Ahli United Bank grants me consent to let,does the interest rate increase?
- My twin plans to rent out his apartment out in the absence of consent to let via his mortgage provider Ahli United Bank. He has been on an interest only mortgage for about five years now. Outstanding amount due is £99k, having bought the flat for about £110k. In the absence of gaining consent to let by Ahli United Bank, exactly what sanctions is he likely to face?
- I have a Ahli United Bank mortgage and have been letting out my flat minus consent to let, making me in breach of my mortgage contract. I think that they have found out that I am not residing there. Is my best option is to dispose of the apartment prior to being repossessed?
- We are having to relocate to Kenya for a couple of years for my job but I don't want to convert the mortgage to BTL as the intention is to move back into it when I return. Do you know if Ahli United Bank charges additional interest? Is there any work around?
- I want to take in lodgers for my studio flat in Lambeth which I live in. My mortgage is with Ahli United Bank. How do I go about getting a consent to let?
- I took a domestic mortgage with Ahli United Bank - about 28% equity. I am considering relocating due to a promotion and enquiring whether consent to let would be granted so I could rent out the property?
- We've spoken to someone at Ahli United Bank about changing our existing mortgage to consent to let (the current fixed rate ends in june next year). Can I just confirm that I need to send a letter setting out our change in circumstance to Ahli United Bank? Where do I need to send the letter to?
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General Advice to read in in addition to the above Ahli United Bank consent to let Questions and Answers
Tax and Legal
There may be various tax and legal (from restrictions on title, lease prohibitions to planning issues) implications when letting out your property. You should always seek the advice of a solicitor and accountant before letting out your property.
Insurance
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
If your property is leasehold, the lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such terms are not adhered to you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform your co-owner of your intention to let could result in them taking legal action against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Ahli United Bank